V Analysis V Analysis

Balance Sheet 2021 2022

CURRENT ASSETS 27.375.787.370.013 52,86% 31.047.872.934.405 46,24%
Cash and cash equivalents 1.868.273.468.458 3,61% 1.858.261.735.520 2,77%
Short-term investments 859.475.421.096 1,66% 687.775.421.096 1,02%
Short-term receivables 23.770.128.605.410 45,90% 26.928.983.183.585 40,10%
LONG-TERM ASSETS 24.408.991.156.547 47,14% 36.098.931.070.315 53,76%
Fixed assets 1.159.099.431.039 2,24% 5.827.316.201.964 8,68%
Long-term assets in
275.760.695.887 0,53% 534.135.391.286 0,80%
progress
Long-term investments 3.777.398.284.108 7,29% 149.417.024.400 0,22%
TOTAL ASSETS 51.784.778.526.560 100,00% 67.146.804.004.720 100,00%
LIABILITIES 34.909.978.249.799 67,41% 52.905.348.036.674 78,79%
Short-term liabilities 16.809.453.111.729 32,46% 30.822.468.393.678 45,90%
Long-term liabilities 18.100.525.138.070 34,95% 22.082.879.642.996 32,89%
OWNER'S EQUITY 16.874.800.276.761 32,59% 14.241.455.968.046 21,21%
Capital and reserves 16.874.800.276.761 32,59% 14.241.455.968.046 21,21%
Owners' capital 5.416.113.340.000 10,46% 5.416.113.340.000 8,07%
Share premium 247.483.117.899 0,48% 247.483.117.899 0,37%
Undistributed earnings 11.302.022.545.015 21,82% 9.109.576.131.129 13,57%
TOTAL RESOURCES 51.784.778.526.560 100,00% 67.146.804.004.720 100,00%
H Analysis ( Difference ) H analysis ( %Difference ) V Analysis
2023
3.672.085.564.392 13,41% 37.272.431.505.972 44,02%
(10.011.732.938) -0,54% 5.050.743.156.638 5,96%
(171.700.000.000) -19,98% 613.343.871.096 0,72%
3.158.854.578.175 13,29% 30.695.940.657.487 36,25%
11.689.939.913.768 47,89% 47.408.630.772.454 55,98%
4.668.216.770.925 402,75% 8.865.102.742.865 10,47%

258.374.695.399 93,70% 333.050.833.489 0,39%

(3.627.981.259.708) -96,04% 149.417.024.400 0,18%

15.362.025.478.160 29,67% 84.681.062.278.426 100,00%
17.995.369.786.875 51,55% 69.048.472.310.863 81,54%
14.013.015.281.949 83,36% 36.187.381.369.961 42,73%
3.982.354.504.926 22,00% 32.861.090.940.902 38,81%
(2.633.344.308.715) -15,61% 15.632.589.967.563 18,46%
(2.633.344.308.715) -15,61% 15.632.589.967.563 18,46%
- 0,00% 5.416.113.340.000 6,40%
- 0,00% 247.483.117.899 0,29%
(2.192.446.413.886) -19,40% 9.361.974.796.142 11,06%
15.362.025.478.160 29,67% 84.681.062.278.426 100,00%
H Analysis ( Difference ) H Analysis ( % Difference )

9.896.644.135.959 36,15%
3.182.469.688.180 170,34%
-246.131.550.000 -28,64%
6.925.812.052.077 29,14%
22.999.639.615.907 94,23%
7.706.003.311.826 664,83%

57.290.137.602 20,78%

-3.627.981.259.708 -96,04%
32.896.283.751.866 63,53%
34.138.494.061.064 97,79%
19.377.928.258.232 115,28%
14.760.565.802.832 81,55%
-1.242.210.309.198 -7,36%
-1.242.210.309.198 -7,36%
0 0,00%
0 0,00%
-1.940.047.748.873 -17,17%
32.896.283.751.866 63,53%
 31.12.2021
Column1 Column2 Column3
NOTE VND
ASSETS
CURRENT ASSETS 27.375.787.370.013 52,86%
Cash and cash equivalents 1.868.273.468.458 3,61%
Cash 983.304.817.181 1,90%
Cash equivalents 884.968.651.277 1,71%
Short-term investments 859.475.421.096 1,66%
Trading securities 990.000.000.000 1,91%
Provision for diminution in value of trading securities -135.000.000.000 -0,26%
Investments held to maturity 4.475.421.096 0,01%
Short-term receivables 23.770.128.605.410 45,90%
Short-term trade accounts receivable 11.600.873.803.004 22,40%
Short-term prepayments to suppliers 653.240.344.019 1,26%
Short-term lending 0,00%
Other short-term receivables 11.516.014.458.387 22,24%
Inventories 811.247.030.655 1,57%
Inventories 811.247.030.655 1,57%
Other current assets 66.662.844.394 0,13%
Short-term prepaid expenses 16.306.514.271 0,03%
Value Added Tax to be reclaimed 50.356.330.123 0,10%
Tax and other receivables from the State Budget 0,00%
LONG-TERM ASSETS 24.408.991.156.547 47,14%
Long-term receivables 13.533.579.509.650 26,13%
Long-term trade accounts receivable 0,00%
Long-term prepayments to suppliers 0,00%
Long-term lending 789.648.322.692 1,52%
Other long-term receivables 12.743.931.186.958 24,61%
Fixed assets 1.159.099.431.039 2,24%
Tangible fixed assets 1.150.354.396.311 2,22%
Historical cost 1.511.188.985.876 2,92%
Accumulated depreciation -360.834.589.565 -0,70%
Finance lease fixed assets 0,00%
Historical cost 0,00%
Accumulated depreciation 0,00%
Intangible fixed asset 8.745.034.728 0,02%
Historical cost 39.927.046.228 0,08%
Accumulated amortization -31.182.011.500 -0,06%
Long-term assets in progress 275.760.695.887 0,53%
Construction in progress 275.760.695.887 0,53%
Long-term investments 3.777.398.284.108 7,29%
Investments in associates 42.270.859.708 0,08%
Investments in other entities 149.417.024.400 0,29%
Held-to-maturity investments 3.585.710.400.000 6,92%
Other long-term assets 5.663.153.235.863 10,94%
Long-term prepaid expenses 5.663.153.235.863 10,94%
Deferred income tax assets 0,00%
TOTAL ASSETS 51.784.778.526.560 100,00%
RESOURCES 0
LIABILITIES 34.909.978.249.799 67,41%
Short-term liabilities 16.809.453.111.729 32,46%
Short-term trade accounts payable 4.343.513.634.358 8,39%
Short-term advances from customers 657.181.421.427 1,27%
Tax and other payables to the State Budget 288.573.309.414 0,56%
Payable to employees 81.631.536.906 0,16%
Short-term accrued expenses 1.000.005.089.275 1,93%
Short-term unearned revenue 381.579.736.840 0,74%
Other short-term payables 611.921.025.986 1,18%
Short-term borrowings 7.253.739.906.166 14,01%
Provision for short-term liabilities 1.864.157.374.566 3,60%
Bonus and welfare funds 327.150.076.791 0,63%
Long-term liabilities 18.100.525.138.070 34,95%
Other long-term payables 50.852.726.178 0,10%
Long-term borrowings 8.206.571.926.768 15,85%
Deferred income tax liabilities 140.106.467.571 0,27%
OWNER'S EQUITY 16.874.800.276.761 32,59%
Capital and reserves 16.874.800.276.761 32,59%
Owners' capital 5.416.113.340.000 10,46%
- Ordinary shares with voting rights 0,00%
Share premium 247.483.117.899 0,48%
Treasury share capital 0,00%
Foreign exchange differences -110.730.393.251 -0,21%
Undistributed earnings 11.302.022.545.015 21,82%
- Undistributed post-tax profits of previous years 11.208.574.467.791 21,64%
- Post-tax profits/(post-tax loss) of current period/year. 93.448.077.224 0,18%
Non-controlling interests 19.911.667.098 0,04%
TOTAL RESOURCES 51.784.778.526.560 100,00%
31.12.2022 31.12.2023
Column4 Column5 Column52
VND

31.047.872.934.405 46,24% 113,41%

1.858.261.735.520 2,77% 99,46%
895.285.955.496 1,33% 91,05%
962.975.781.024 1,43% 108,81%
687.775.421.096 1,02% 80,02%
990.000.000.000 1,47% 100,00%
-490.000.000.000 -0,73% 362,96%
187.775.421.096 0,28% 4195,70%
26.928.983.183.585 40,10% 113,29%
14.253.407.756.176 21,23% 122,86%
2.064.286.286.755 3,07% 316,01%
657.000.000.000 0,98%
9.954.289.140.654 14,82% 86,44%
982.716.071.675 1,46% 121,14%
982.716.071.675 1,46% 121,14%
590.136.522.529 0,88% 885,26%
440.027.011.417 0,66% 2698,47%
150.109.511.112 0,22% 298,09%
0,00%
36.098.931.070.315 53,76% 147,89%
22.121.135.796.687 32,94% 163,45%
0,00%
1.132.635.253.054 1,69%
818.221.855.860 1,22% 103,62%
20.170.278.687.773 30,04% 158,27%
5.827.316.201.964 8,68% 502,75%
5.798.930.409.912 8,64% 504,10%
6.205.088.152.854 9,24% 410,61%
-406.157.742.942 -0,60% 112,56%
0,00%
0,00%
0,00%
28.385.792.052 0,04% 324,59%
61.941.976.858 0,09% 155,14%
-33.556.184.806 -0,05% 107,61%
534.135.391.286 0,80% 193,70%
534.135.391.286 0,80% 193,70%
149.417.024.400 0,22% 3,96%
0,00% 0,00%
149.417.024.400 0,22% 100,00%
0,00% 0,00%
7.466.926.655.978 11,12% 131,85%
7.228.154.288.804 10,76% 127,63%
238.772.367.174 0,36%
67.146.804.004.720 100,00% 129,67%
0
52.905.348.036.674 78,79% 151,55%
30.822.468.393.678 45,90% 183,36%
 9.801.516.841.596 14,60% 225,66%
1.843.104.055.915 2,74% 280,46%
955.291.059.522 1,42% 331,04%
190.125.532.153 0,28% 232,91%
1.673.345.897.620 2,49% 167,33%
3.503.454.041.287 5,22% 918,14%
2.188.722.038.202 3,26% 357,68%
7.173.459.139.590 10,68% 98,89%
3.211.841.211.002 4,78% 172,29%
281.608.576.791 0,42% 86,08%
22.082.879.642.996 32,89% 122,00%
69.101.133.676 0,10% 135,88%
10.309.745.847.108 15,35% 125,63%
0,00% 0,00%
14.241.455.968.046 21,21% 84,39%
14.241.455.968.046 21,21% 84,39%
5.416.113.340.000 8,07% 100,00%
5.416.113.340.000 8,07%
247.483.117.899 0,37% 100,00%
0,00%
-552.152.454.149 -0,82% 498,65%
9.109.576.131.129 13,57% 80,60%
11.281.432.588.734 16,80% 100,65%
-2.171.856.457.605 -3,23% -2324,13%
20.435.833.167 0,03% 102,63%
67.146.804.004.720 100,00% 129,67%
Column6 Column7 Column8
VND

37.272.431.505.972 44,02% 136,15%

5.050.743.156.638 5,96% 270,34%
2.427.790.228.105 2,87% 246,90%
2.622.952.928.533 3,10% 296,39%
613.343.871.096 0,72% 71,36%
990.000.000.000 1,17% 100,00%
-486.450.000.000 -0,57% 360,33%
109.793.871.096 0,13% 2453,26%
30.695.940.657.487 36,25% 129,14%
10.721.700.030.917 12,66% 92,42%
1.958.751.910.473 2,31% 299,85%
457.000.000.000 0,54%
17.558.488.716.097 20,73% 152,47%
703.384.543.264 0,83% 86,70%
703.384.543.264 0,83% 86,70%
209.019.277.487 0,25% 313,55%
139.380.803.142 0,16% 854,76%
9.006.655.475 0,01% 17,89%
60.631.818.870 0,07%
47.408.630.772.454 55,98% 194,23%
29.649.890.834.721 35,01% 219,08%
3.930.010.008.679 4,64%
6.191.838.323.383 7,31%
896.128.275.641 1,06% 113,48%
18.631.914.227.018 22,00% 146,20%
8.865.102.742.865 10,47% 764,83%
3.990.618.451.426 4,71% 346,90%
4.638.893.419.349 5,48% 306,97%
-648.274.967.923 -0,77% 179,66%
4.827.184.101.340 5,70%
4.899.809.244.898 5,79%
-72.625.143.558 -0,09%
47.300.190.099 0,06% 540,88%
88.711.024.773 0,10% 222,18%
-41.410.834.674 -0,05% 132,80%
333.050.833.489 0,39% 120,78%
333.050.833.489 0,39% 120,78%
149.417.024.400 0,18% 3,96%
0,00% 0,00%
149.417.024.400 0,18% 100,00%
0,00% 0,00%
8.411.169.336.979 9,93% 148,52%
8.256.558.289.835 9,75% 145,79%
154.611.047.144 0,18%
84.681.062.278.426 100,00% 163,53%
0
69.048.472.310.863 81,54% 197,79%
36.187.381.369.961 42,73% 215,28%
 9.764.056.467.032 11,53% 224,80%
2.331.776.667.248 2,75% 354,81%
575.186.735.843 0,68% 199,32%
155.083.000.891 0,18% 189,98%
1.343.998.756.243 1,59% 134,40%
3.600.018.592.529 4,25% 943,45%
1.954.725.899.127 2,31% 319,44%
13.878.114.601.654 16,39% 191,32%
2.578.930.910.375 3,05% 138,34%
5.489.738.949 0,01% 1,68%
32.861.090.940.902 38,81% 181,55%
1.404.788.968 0,00% 2,76%
17.224.224.029.089 20,34% 209,88%
0,00% 0,00%
15.632.589.967.563 18,46% 92,64%
15.632.589.967.563 18,46% 92,64%
5.416.113.340.000 6,40% 100,00%
5.416.113.340.000 6,40%
247.483.117.899 0,29% 100,00%
0,00%
585.760.354.185 0,69% -529,00%
9.361.974.796.142 11,06% 82,83%
9.018.933.578.880 10,65% 80,46%
343.041.217.262 0,41% 367,09%
21.258.359.337 0,03% 106,76%
84.681.062.278.426 100,00% 163,53%
 V Analysis

2021 2022
Note VND VND
Revenue from sales of goods and
100,0000% 39.342.331.391.411
rendering of services 12.998.433.570.461
Net revenue from sales of goods
12.998.433.570.461 100,0000% 39.342.331.391.411
and rendering of services
Cost of goods sold and services
14.951.629.831.766 115,0264% 41.509.237.739.246
rendered
Gross profit/(loss) from sales of
-1.953.196.261.305 -15,0264% -2.166.906.347.835
goods and rendering of services
Financial income 3.920.047.929.433 30,1578% 2.481.565.002.058
Financial expenses 798.184.197.579 6,1406% 2.732.699.430.380
- Including: Interest expenses 799.143.695.832 6,1480% 1.359.767.921.102
Selling expenses 607.756.237.934 4,6756% 938.025.328.460

General and administrative expenses 383.335.271.851 2,9491% 526.776.370.819

Net operating profit/(loss) 177.575.960.764 1,3661% -3.882.842.475.436

Other income 16.629.964.449 0,1279% 2.102.389.899.508
Other expenses 7.778.986.800 0,0598% 38.166.043.485
Net other income 8.850.977.649 0,0681% 2.064.223.856.023
Net accounting profit/(loss) before
186.426.938.413 1,4342% -1.818.618.619.413
tax
Business income tax - current 13.895.982.395 0,1069% -746.003.110.740
Business income tax-deferred 72.281.692.428 0,5561% 393.289.438.617
Net profit/(loss) after tax 100.249.263.590 0,7712% -2.171.332.291.536
Attributable to:
Owners of the parent company 95.174.863.511 0,7322% -2.171.856.457.605
Non-controlling interests 5.074.400.079 0,0390% 524.166.069
Net income 100.175.079.283 0,7707% -2.171.856.457.605
Basic earnings/(losses) per share 177 0,0000% -4.010
Diluted earnings/(losses) per share 177 0,0000% -4.010
 H Analysis ( H Analysis ( %
V Analysis V Analysis
Difference ) Difference )
2023
VND

100,00% 26.343.897.820.950 202,67% 62.534.861.293.754 100,00%

100,00% 26.343.897.820.950 202,67% 62.534.861.293.754 100,00%

105,51% 26.557.607.907.480 177,62% 59.617.691.072.096 95,34%

-5,51% -213.710.086.530 10,94% 2.917.170.221.658 4,66%

6,31% -1.438.482.927.375 -36,70% 3.730.472.663.640 5,97%

6,95% 1.934.515.232.801 242,36% 3.050.694.872.847 4,88%
3,46% 560.624.225.270 70,15% 1.872.850.540.738 2,99%
2,38% 330.269.090.526 54,34% 2.218.110.989.715 3,55%

1,34% 143.441.098.968 37,42% 1.129.227.167.646 1,81%

-9,87% -4.060.418.436.200 -2286,58% 249.609.855.090 0,40%

5,34% 2.085.759.935.059 12542,18% 525.821.657.483 0,84%
0,10% 30.387.056.685 390,63% 53.321.650.513 0,09%
5,25% 2.055.372.878.374 23221,99% 472.500.006.970 0,76%

-4,62% -2.005.045.557.826 -1075,51% 722.109.862.060 1,15%

-1,90% -759.899.093.135 -5468,48% 128.586.617.982 0,21%

1,00% 321.007.746.189 444,11% 249.659.500.646 0,40%
-5,52% -2.271.581.555.126 -2265,93% 343.863.743.432 0,55%

-5,52% -2.267.031.321.116 -2381,96% 343.041.217.262 0,55%

0,00% -4.550.234.010 -89,67% 822.526.170 0,00%
-5,52% -2.272.031.536.888 -2268,06% 343.041.217.262 0,55%
0,00% -4.187 -2365,54% 633 0,00%
0,00% -4.187 -2365,54% 633 0,00%
 H Analysis ( H Analysis ( %
Difference ) Difference )

49.536.427.723.293 381,10%

49.536.427.723.293 381,10%

44.666.061.240.330 298,74%

4.870.366.482.963 -249,35%

-189.575.265.793 -4,84%
2.252.510.675.268 282,20%
1.073.706.844.906 134,36%
1.610.354.751.781 264,97%

745.891.895.795 194,58%

72.033.894.326 40,57%
509.191.693.034 3061,89%
45.542.663.713 585,46%
463.649.029.321 5238,39%

535.682.923.647 287,34%

114.690.635.587 825,35%
177.377.808.218 245,40%
243.614.479.842 243,01%

247.866.353.751 260,43%
-4.251.873.909 -83,79%
242.866.137.979 242,44%
456 257,63%
456 257,63%